State of New Jersey Common Pension Fund D Grows Position in Artisan Partners Asset Management Inc. (NYSE:APAM)

State of New Jersey Common Pension Fund D grew its position in shares of Artisan Partners Asset Management Inc. (NYSE:APAM) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 47,318 shares of the asset manager’s stock after acquiring an additional 3,136 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Artisan Partners Asset Management were worth $2,050,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Millennium Management LLC acquired a new position in shares of Artisan Partners Asset Management during the second quarter worth $10,685,000. Jupiter Asset Management Ltd. purchased a new position in Artisan Partners Asset Management in the 1st quarter valued at about $9,907,000. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Artisan Partners Asset Management by 2.5% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,626,937 shares of the asset manager’s stock valued at $273,494,000 after acquiring an additional 160,297 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Artisan Partners Asset Management during the first quarter worth about $7,287,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Artisan Partners Asset Management in the second quarter worth about $4,531,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on APAM shares. TD Cowen upped their target price on Artisan Partners Asset Management from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Evercore ISI lifted their price target on Artisan Partners Asset Management from $40.00 to $44.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 target price on shares of Artisan Partners Asset Management in a report on Monday, July 29th. Finally, The Goldman Sachs Group lowered their price target on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $44.13.

Artisan Partners Asset Management Trading Down 2.4 %

Shares of NYSE APAM opened at $46.66 on Friday. Artisan Partners Asset Management Inc. has a 12-month low of $36.45 and a 12-month high of $49.52. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 13.00 and a beta of 1.79. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $43.93 and its 200 day simple moving average is $42.62.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, October 29th. The asset manager reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $279.60 million during the quarter, compared to analyst estimates of $279.70 million. Artisan Partners Asset Management had a net margin of 23.95% and a return on equity of 71.50%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Equities research analysts expect that Artisan Partners Asset Management Inc. will post 3.49 EPS for the current year.

Artisan Partners Asset Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 7.03%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 79.11%.

Artisan Partners Asset Management Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.